Bernard Dahdah, precious metals analyst at Natixis said that the bank is optimistic on the precious metals complex as uncertainty grips financial markets, limiting economic growth in 2019.
“The U.S. has pretty much reached full employment so the growth prospects for the country will start slowing down. We are still optimistic on growth but it looks like it has reached a peak,” he said. “That will be positive for gold next year.”
For 2019, the bank sees gold prices averaging the year at $1,275 an ounce, up more than 4 percent from current prices; December gold futures last traded at $1222.70 an ounce, relatively unchanged on the day.
Altus Stratgies is a London (LON: ALS) and Toronto (TSX-V: ALTS) listed, diversified and Africa focused mineral exploration project generator. Through our subsidiaries we discover new projects and attract third party capital to fund their growth, development and ultimately exit optionality. This strategy enables Altus to remain focused on the acquisition of new opportunities to be fed into the project generation cycle and aims to minimise shareholder dilution. Our business model is designed to create a growing portfolio of well managed and high growth potential projects and royalties, diversified by commodity and by country. Altus currently has eighteen projects in six commodities across six countries. We aim to position our shareholders at the vanguard of value creation, but with significantly reduced risks traditionally associated with investments in the mineral exploration sector.